1. Some older Americans may need to claim benefits sooner

If you’re nearing retirement with a solid plan on how you’re going to approach your savings, then perhaps it’s time to reevaluate some key factors.

Everyone can claim Social Security as early as 62, but doing so will reduce monthly checks permanently. So it’s no wonder that a lot of seniors chose to at least wait until they’ve reached their full retirement age, which is around 66 or 67 because it depends on your birth year.

If you wait, you get your full benefits. But if you’re forced out of your jobs, you might need those checks in order to make ends meet, regardless of how old you are. If and when this happens, you’re also going to need to figure out how to access the rest of your retirement savings in order to make up in the reduction of cash.